ATLANTA, February 10, 2014 (SEI PR) – SpaceWorks Enterprises, Inc. (SEI) released the annual update to its nanosatellite and microsatellite market assessment. The assessment presents the latest observations, trends, and projections for the nano/microsatellite market.
Projections indicate more than 400 nano/micro satellites will need launches annually in the year 2020 and beyond. The study summary is available in presentation form as a free download on the SpaceWorks website here.
Since 2008, SpaceWorks has actively monitored global nano/microsatellite activities to provide its clients with valuable insight into this growing market. SpaceWorks is currently tracking 650 future (2014 – 2016) nano/microsatellites with masses between 1 kilogram and 50 kilograms in various stages of planning or development. Historical launches and publicly announced plans for future launches, as well as estimated market growth serve as a basis for projection of the quantity of nano/microsatellites that will launch between 2014 and 2020. Data concerning future launches is sourced from the public announcements of small satellite operators, launch vehicle providers, government agencies, and other organizations, but also from additional market research and commercial companies’ intentions.
Projections indicate considerable growth in the nano/microsatellite market, with an estimated range of 410 to 543 nano/microsatellites (1-50 kg) that will need launches globally in 2020 (compared to 92 in 2013). The 2014 Nano/Microsatellite Market Assessment by SpaceWorks shows that nano/microsatellite launches have grown by an average of 37.2% per year since 2009, with an expected 23.8% growth per year over the next 6 years (2014-2020). Analysis of development trends by sector show that the civil sector (including academic) remains strong, but the commercial sector is growing significantly and will continue to influence the nano/microsatellite market. Analysis of trends by purpose suggests that applications for nano/microsatellites are diversifying, with increased use in the future for Earth observation and remote sensing missions.
“Small satellites continue to grow in popularity, as is evident by the sizable number of nano/microsatellites launched in 2013,” stated Ms. Elizabeth Buchen, Director of SpaceWorks’ Engineering Economics Group. “Our assessment confirms that the market is continuing its growth phase, which will remain in the coming years, especially in the commercial sector. Our hope is that the Nano/Microsatellite Market Assessment will prove to be an insightful and valuable resource for the existing small satellite community, as well as those who are thinking about entering the market.”
SpaceWorks internally maintains a broad Launch Demand Database (LDDB) to track historical and future satellites in all size classes. More detailed analyses and custom assessments of the nano/microsatellite market and larger satellite classes are available to interested clients.
About SpaceWorks Enterprises, Inc. (SEI)
SpaceWorks Enterprises, Inc. (SEI) consists of three operating divisions: SpaceWorks Engineering, SpaceWorks Commercial, and SpaceWorks Software. SpaceWorks Engineering provides advanced space concept design and analysis services to a variety of traditional aerospace clients spanning government, industry, and academia. SpaceWorks Commercial serves as an incubator for new business ventures and partnerships for which SpaceWorks has a financial interest or strategic role. SpaceWorks Software develops and sells aerospace software and mobile applications. SEI was founded in 2000 and is a privately held S-Corporation. (www.sei.aero)